Cooling the Future: Air Conditioning Compressor Market to Soar from US$ 25.9 Bn in 2022 to US$ 42.4 Bn by 2032, Riding a 5% CAGR Surge - Insights from Future Market Insights

According to Future Market Insights, the global air conditioning compressor market is expected to be valued at US$ 25,941.3 Million in 2022 and further grow at 5.0% CAGR between 2022 and 2032. Overall sales of air conditioning compressors are projected to total a valuation of US$ 42,413.6 Million by 2032.

Air conditioning compressor sales are increasing as the world's infrastructure sector develops. The GDP of the entire world depends heavily on infrastructure. Due to the significant contribution of emerging and developing economies to global economic growth, it is expected that the need for air conditioning compressors will increase dramatically during the forthcoming decade.

Air conditioning compressors find application in homes, workplaces, hospitals, entertainment venues, automobiles, and other commercial and industrial buildings. Many people in developing nations view air conditioning as a luxury product for the home.

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Because of reasons like rising population, falling AC prices, increasing disposable income, and changing consumer lifestyles, a positive growth trajectory for the air conditioning compressor market has been predicted by FMI for the projection period.

Similarly, there is an increasing need for air conditioners everywhere, particularly in urban areas, as a result of increased air pollution, high temperatures, and humidity levels. Fluctuation in temperature is prompting people to install cooling units in their buildings. This will continue to boost the sales of air conditioning compressors during the assessment period.

Key Takeaways from the Market Study

Based on type, rotary type is projected to hold the highest share of 56.8% in terms of volume in 2022.
By refrigerant type, the R290 refrigerant segment is expected to grow at a CAGR of 4.5% during the forecast period.
By application, the residential sector is projected to lead the Air conditioning compressor market, creating an absolute $ opportunity worth US$ 1,069.0 Mn during the forecast period.
By 2032, East Asia is expected to have the largest share of around 33.1% in the global air conditioning compressor market.
China's air conditioning compressor market is projected to grow at 4.9% CAGR during the forecast period,
The U.S. air conditioning compressor market is likely to create an incremental opportunity of nearly US$ 2,042.5 Million by 2032.

"Rising application in residential, industrial, transportation, and commercial sectors is a key force behind the expansion of the global air conditioning compressor market forward. Besides this, advancements in compressor technology are likely to boost the market over the next decade," says a Future Market Insights analyst.

Key Companies Profiled:

Emerson Electric Co.
Daikin Industries Ltd.
LG Electronics
The Danfoss Group
Tecumseh Products Company LLC
Panasonic Corporation
GEA Group AG
Johnson Controls-Hitachi Air Conditioning
BITZER SE
Midea Group(GMCC)
Officine Mario Dorin S.p.A.

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These manufacturers are focusing on increasing their regional market and are involved in marking their direct presence in the local markets by expanding their dealer network. They are also collaborating with local distributors to supply their products globally.

More Insights into the Air Conditioning Compressor Market:

The research report analyzes the market demand trend for Air conditioning compressors. The global market is based on COVID-19 impact, macroeconomic factors, market trends & market background. As per Future Market Insights' research scope, the Air conditioning compressor report is studied and analyzed in the following segments such as type, refrigerant type application, and region. The Air conditioning compressor report gives us qualitative and quantitative information about the companies.

Explore This Report From Different Publications:
Air Conditioning Compressor Market:
1) https://www.globenewswire.com/en/news-release/2022/12/06/2567888/0/en/Air-Conditioning-Compressor-Market-Estimated-to-Grow-from-US-25-9-Bn-in-2022-to-US-42-4-Bn-by-2032-with-Total-Sales-Zooming-at-5-CAGR-Data-by-Future-Market-Insights-Inc.html

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Future Market Insights (ESOMAR-certified market research organization and a member of the Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel, and End Use over the next 10 years.

This release was published on openPR.